30% Rise In Tech Firm's E-commerce Platforms Sales In Early Festive Season

E-commerce platforms during the first week of festive season are estimated to have registered 30% growth year-on-year, inventory and warehouse management tech firm EasyEcom said

Topics

Tech firms | ecommerce firms | Online festive sale

Press Trust of India  |  New Delhi 



Online retail

Representative Image

').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();

E-commerce platforms during the first week of festive season are estimated to have registered 30 per cent growth year-on-year, inventory and warehouse management tech firm EasyEcom said on Wednesday.

EasyEcom said that e-commerce volume will grow more in Tier-2 and Tier-3 towns compared to Tier-1 cities, with non-metros driving nearly 80 per cent of the total e-commerce sales along with Tier-2 towns adding about 60 per cent to the figure.

"The first week of the festive sales across e-commerce platforms in India will exceed the gross merchandise value on non-sale days by five times, projecting a figure which will be around 1.3 times up from last year," EasyECom said.

The company said that its analysis is based on data captured by its software-as-a-service platform which focuses on omnichannel inventory & warehouse management and reconciliations.

The company has seen a 14 per cent growth in product lines on e-commerce platforms.

"The subdued performance of the first quarter due to global events has been compensated for by the second quarter, so the demand will shoot up uniformly. Stock levels, pricing, storage, fulfillment and serviceability need advance planning, and which is something no one can understand better than eCommerce operators whose revenue banks on the festive period," EasyEcom Founder and CEO Punit Gupta said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

First Published: Wed, October 05 2022. 20:19 IST


RECENT NEWS

JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity

JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more

Private Equity And Banks: The Complex Web Of Leverage

Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more

Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector

The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more

JPMorgan And Small Caps Lead Market Rally: A Sign Of Economic Optimism

In a week marked by strong financial performance, JPMorgan Chase & Co. reported a 25% rise in profits, and US small-... Read more

Big Banks Vs. Regional Banks: The Battle For Market Share

The financial industry is a competitive landscape where big banks and regional banks vie for market share. Each type of ... Read more

The Evolution Of Philanthropic Advisory Services In Private Banks

The landscape of philanthropic advisory services provided by private banks has undergone a significant transformation. T... Read more